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National Tax Debt Offers Help Amidst IRS Collections

08-28-2024 04:52 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Getnews

/ PR Agency: Authority Titans

Image: https://www.getnews.info/wp-content/uploads/2024/08/1724781499.png

The Internal Revenue Service (IRS) is gearing up to intensify tax collections after a temporary lull during the COVID-19 pandemic. This heightened focus is largely due to increased funding from the Inflation Reduction Act, which has enabled the IRS to expand its workforce and enhance its collection capabilities.

IRS Collections Resuming

Taxpayers who owe back taxes should be aware that the IRS is becoming more aggressive in its collection efforts. This means an increased likelihood of audits, levies, and wage garnishments for those who have outstanding tax liabilities.

The Impact of the Inflation Reduction Act

A key factor driving the IRS's renewed focus on collections is the additional funding provided by the Inflation Reduction Act. These funds have allowed the agency to hire more agents and staff, bolstering its capacity to pursue delinquent taxpayers. As a result, taxpayers can expect to see a more assertive IRS in the coming months and years.

Available Relief Options

While the IRS is ramping up collections, there are still options available for taxpayers facing financial difficulties. One such option is an Offer in Compromise (OIC), which allows qualified taxpayers to settle their tax debt for less than the full amount owed.

Additionally, taxpayers experiencing significant financial hardship may qualify for Currently Non-Collectible (CNC) status. This designation prevents the IRS from taking collection actions, such as levies or wage garnishments, while the taxpayer is enrolled in the CNC program.

Seeking Professional Help

Navigating the complex world of tax debt can be overwhelming. Taxpayers facing IRS issues may benefit from seeking professional assistance from a qualified tax resolution firm. Such firms have the expertise to assess individual situations and recommend appropriate strategies to resolve tax problems.

National Tax Debt: A Trusted Partner

National Tax Debt is a company dedicated to helping individuals and businesses overcome their tax challenges. With over 80 years of combined experience, their team of CPAs and certified tax professionals has a proven track record of success in resolving IRS issues.

Whether you're dealing with unfiled tax returns, levies, or wage garnishments, National Tax Debt can provide the guidance and support you need. Their commitment to client satisfaction and their ability to work with taxpayers facing various financial circumstances make them a reliable partner in navigating the tax resolution process.

Conclusion

The resurgence of IRS collections underscores the importance of staying current with tax obligations. While the situation may seem daunting, taxpayers should be aware of the available relief options and consider seeking professional assistance if needed. By taking proactive steps, individuals and businesses can protect their financial well-being and minimize the impact of IRS collections.

About National Tax Debt

National Tax Debt is a tax resolution firm specializing in helping clients resolve their IRS tax problems. With a team of experienced CPAs and certified tax professionals, the company offers comprehensive solutions tailored to individual needs.
Media Contact
Company Name: National Tax Debt
Contact Person: Diana Winfrey
Email: Send Email [http://www.universalpressrelease.com/?pr=national-tax-debt-offers-help-amidst-irs-collections]
Phone: 866-362-6469
Country: United States
Website: http://www.nationaltaxdebt.com



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